We quantify the total stock of balances eligible for the Biden administration's 2022 student loan forgiveness proposal and examine which groups would have benefited most. Up to $442 billion in loans were eligible. Those who would have benefited most were younger, had lower credit scores, and lived in lower- and middle-income neighborhoods. We also…

Parents in the United States frequently supplement the student loans available to their children by cosigning on a loan, borrowing against their home equity, or with unsecured debt in their own names. This paper investigates whether some students are constrained from attending and completing college by their parents' lack of access to credit…

The article analyzes effects of borrower interest rates and student lender subsidies on federally guaranteed student loan volumes from 1988 to 1994 and from 1996 to 2006. Some have argued that lender subsidy cuts would reduce loan supply or cause lenders to exit the student loan market. If lenders get economic rents due to overly generous…

One distinction between the markets for corporate and municipal bonds involves institutional constraints that apply to some municipal bond issues. This research focuses on how public finance institutions, in particular explicit debt limits and referenda requirements, affect the borrowing cost of individual school district bond issues. The…

Low college enrollment rates among low-income students may stem from a combination of credit constraints, low academic skill, and low-quality schools. Recent Massachusetts data allow the first use of school district fixed effects in the analysis of credit constraints, leading to four findings. First, low-income students in Massachusetts have lower…